Africa is home to over 1.3 billion people, which accounts for 17 percent of the world’s population. Having 54 countries, each is diverse, with its unique cultural and economic differences. Banks are financial institutions where people make transactions; deposits or withdrawals. However, this is just the primary function of a bank. There are several banks established by the government and individuals on the continent. They offer numerous services ranging from investment, management, lending, etc.
If you are interested in knowing the top banks here, here is a list of ten of the top banks established by Africans. Most of these banks have an international presence too.
Top Ten Banks in Africa
The following is a list of ten of the top banks within the continent and their home country.
AFrexim Bank
Founded in Egypt
Also known as African Export-Import Bank, it is a financial institution with its headquarters in Cairo. It aims to be the trade finance bank for customers across the African continent. The bank offers various financing programs, and business solutions, among other services to aid African trade.
Zenith Bank
Founded in Nigeria
Set up in May 1990 as a commercial bank, it is now a public limited company as of 2004. With over 500 branches, business offices, and subsidiaries across the continent, it has plans to expand further into Europe and Asia.
Investec
Founded in South Africa
This bank was established in 1974 and expanded into the UK in 1992. It employs over 8,700 workers globally and provides private banking, as well as reliable management such as corporate, wealth, investment, and asset management.
Groupe Banque Populaire
Founded in France
With its main office in France, it is a cooperative of banks established in 1878. The bank has branches in more than 40 countries, financing over 20 percent of the French economy.
Attijariwafa
Founded in Morocco
Attijariwafa Bank, a leading player in the Moroccan and African financial sector, serves more than 10 million clients in 25 countries. Established in 1904, it plays an active role in the country’s social development by providing support and aid to disadvantaged communities through partnerships.
Nedbank Group
Founded in South Africa
This group targets its market in South Africa, with 692 branches, and continues to expand further to other parts of the continent. They provide varieties of wholesale and retail banking services, grow insurance, and offer wealth and asset management services.
National Bank of Egypt (NBE)
Founded in Egypt
Established in 1898, it is the oldest commercial bank in the country. As history holds, the bank has continued to advance to keep up with different political and economic stages. Although it has 510 branches nationwide and serves 14 million local customers, it also has an international presence.
Firstrand Bank
Founded in South Africa
Based in South Africa, the UK, and India, this bank is among the largest financial institutions operating within the continent. With its impressive record of returns to shareholders, it offers all of its customers transactional, investment, lending, and insurance services and products.
ABSA Group
Founded in South Africa
The group exists in 12 countries across the continent. Having at least 42,000 workers, the bank was established in 1991 and was formerly known as Barclays Africa Group Ltd. It provides personal and business banking, investment schemes, credit cards, wealth and investment management, and corporate services.
Standard Bank Group
Founded in South Africa
The group is a financial institution, which offers banking and commercial services to persons, businesses, institutions, and corporations based in Africa and abroad. More concerned about building a strong customer relationship, the bank’s focus is solely on customer and client experiences.
